Suratwwala Business Group Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Suratwwala Business Group Ltd trades at ₹30.4, in a downtrend and 60 weeks into that stage. That is −18.8% against its own 200-day average. It sits at 32% of a 52-week range of ₹22 to ₹49. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a downtrend — week 60 of stage 4, confirmed. At ₹30.4 it trades −18.8% versus its 200-day average and sits at 32% of its 52-week range (₹22–₹49).

Against the market, two honest reads. Cumulative: over the last 5.7 years the stock moved +1,767% while the NIFTY 500 moved +144% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-03-06) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 6th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Suratwwala Business Group Ltd trades at 16.8× P/E, near the bottom of its own range — cheaper only 6% of the time. Its long-run median P/E is 63.8×, measured across 2.7 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 16.8× is near the bottom of its own range — cheaper only 6% of the time, against a long-run median of 63.8× measured over 2.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

🚨 Why the multiple sits where it does: over the past year annual EPS moved −60.6% against a −25.8% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Suratwwala Business Group Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −52.4% at the trough to +210.0%, a 3-quarter improving streak, ROCE holding at 12.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

50.2/100 — rank 12 of 26 in Realty - Construction & Contracting · 56% evidence confidence

Suratwwala Business Group Ltd scores 50.2 out of 100 against the 26 companies it is compared with in Realty - Construction & Contracting, ranking 12. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 18.3 + 12 + 14.1 + 5.8 = 50.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Suratwwala Business Group Ltd reported ₹42.0 Cr of revenue in the Dec 25 quarter, +1,300.0% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 19.6% a year. The last full year, FY25, came in at ₹36.0 Cr. The last four reported quarters add to ₹105 Cr.

Suratwwala Business Group Ltd reported ₹42.0 Cr of revenue in the Dec 25 quarter, +1,300.0% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 19.6% a year. The last full year, FY25, came in at ₹36.0 Cr. The last four reported quarters add to ₹105 Cr.

FY25 revenue came in at ₹36.0 Cr (−50.0% on the year), capping 10 years at 19.6% compound. The latest quarter (Dec 25) printed ₹42.0 Cr, +1,300.0% year on year — the 3rd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +644.5% growth against the decade's 19.6% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +200.0% over the last 4 quarters against +31.2%/yr over the last 8 — accelerating; TTM profit +210.0% vs +21.5%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 37.0% this quarter (+45.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Suratwwala Business Group Ltd's operating margin is 37.0% in the Dec 25 quarter, +45.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −482.0% to 88.0%. The current quarter sits inside that band.

Suratwwala Business Group Ltd's operating margin is 37.0% in the Dec 25 quarter, +45.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −482.0% to 88.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 37.0%, +45.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −482.0%–88.0%.

Why the margin moved: operating margin went +45.3 pp year on year while gross margin went +21.5 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins held — did that reach the bottom line? Next: profit null in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Suratwwala Business Group Ltd earned ₹11.0 Cr of net profit in the Dec 25 quarter. Full-year FY25 profit was ₹11.0 Cr. The 10-year compound rate is 27.1%. That is 26.2% of the quarter's revenue. The same quarter a year earlier earned ₹0.0 Cr. 1 of the last 12 reported quarters were loss-making.

Suratwwala Business Group Ltd earned ₹11.0 Cr of net profit in the Dec 25 quarter. Full-year FY25 profit was ₹11.0 Cr. The 10-year compound rate is 27.1%. That is 26.2% of the quarter's revenue. The same quarter a year earlier earned ₹0.0 Cr. 1 of the last 12 reported quarters were loss-making.

Dec 25 profit was ₹11.0 Cr, null year on year. On the full year, FY25 printed ₹11.0 Cr (−60.7%), and the 10-year compound rate is 27.1%.

→ Profit rose — but did the cash follow? Next: −25% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −25% of Suratwwala Business Group Ltd's reported profit arrived as operating cash — a gap worth watching. In FY25 that was ₹−5.0 Cr of operating cash against ₹11.0 Cr of profit. After ₹26.0 Cr of capital spending, ₹−31.0 Cr was left as free cash.

FY25: operating cash of ₹−5.0 Cr against reported profit of ₹11.0 Cr, leaving free cash of ₹−31.0 Cr after ₹26.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −25% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −25%: the cash cycle tightened 3,025 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 43-day cycle and ₹26.0 Cr of building.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Suratwwala Business Group Ltd's cash conversion cycle runs 43 days in FY25, down from 3,068 days in FY20. Capital spending ran ₹26.0 Cr over the last 3 years. At FY25 sales of ₹36.0 Cr each day of that cycle holds about ₹0.1 Cr, so roughly ₹4.0 Cr sits inside the business at any moment.

FY25: debtors at 43 days (an asset-light business — no inventory to speak of) — for a full cycle of 43 days, tighter than FY20's 3,068.

In money terms: at FY25 sales of ₹36.0 Cr, each day of the cycle holds about ₹0.1 Cr — so the 43-day loop keeps roughly ₹4.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹26.0 Cr over the last 3 fiscal years. Capital work-in-progress stands at ₹6.0 Cr (FY25) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 12% and the ROIC − WACC spread is +11.5 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Suratwwala Business Group Ltd earns a ROCE of 12% in FY25. That is up from a trough of −12% in FY22. Return on invested capital clears the cost of that capital by +11.5 percentage points, so growth here adds value rather than only size. The wiring behind it is 30.6% net margin on 0.19× asset turns.

FY25 ROCE is 12%, recovered from a FY22 trough of −12% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY25): 30.6% net margin × 0.19× asset turns × 2.72× balance-sheet leverage ≈ 15.8% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 23.5% − 12.0% = a +11.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 1.07.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Suratwwala Business Group Ltd carries ₹73.0 Cr of borrowings against ₹68.0 Cr of equity in FY25, a debt-to-equity of 1.07. Over 5 years borrowings went from ₹24.0 Cr to ₹73.0 Cr. Capital spending ran ₹26.0 Cr across the last 3 of those years.

FY25: borrowings of ₹73.0 Cr against equity of ₹68.0 Cr — a debt-to-equity of 1.07. Over 5 years borrowings went from ₹24.0 Cr to ₹73.0 Cr while capital spending ran ₹26.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Suratwwala Business Group Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +0.0 points over 8 quarters to 73.4%; Foreign institutions: +0.0 points over 8 quarters to 0.0%.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Suratwwala Business Group Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Frequently asked questions